It was almost three years now when I started teaching financial literacy to our fellow OFW and Filipinos. It is funny but true that most of Filipinos are have a lot of excuses and alibi when it comes to their investment.
"Look carefully then how you walk, not as unwise but as wise, making the best use of the time, because the days are evil. Therefore do not be foolish, but understand what the will of the Lord is".
Here are some excuses that most of the Filipinos keep telling why they cannot start investing, and its run for a year so they fail to break their poverty.
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| WHAT IS YOUR EXCUSES? |
JANUARY:
It was in my New Year’s resolution to start investing and change my lifestyle, but my 13 month pay and Christmas bonus was already gone paying for my bills, and buying gift to my “inaanaks” and relatives last Christmas season, a lot of reunion and party. I promise next month I will start investing for my future.
FEBRUARY:
It is a love month, I want to have a romantic surprise for my love ones and treat him/her to a great hotel and romantic places and of course I want to give him/her a surprise gift that she/he really ask before. Valentines happen only once a year so I will make it unforgettable and romantic experience. Promise I will start investing by next month.
MARCH:
My son is in the top and honor roll I must treat him, and my daughter will be graduating so we must treat for our family and friends as a gift for them. We are just proud parents and its ok to spend something for them. Next month I will be starting to save and invest.
APRIL:
Oh its summer time and its very hot inside our house we are planning to have summer out of town. We will be on the beach and also try to celebrate Holy Week by doing a pilgrimage. Wow I can wait for our family outing, it’s a great bonding and relaxing time for us. After this summer I will invest.
MAY:
I will prepare something this Fiesta in our town it’s our tradition to thanks God by preparing food and inviting friends. It will be happy celebration this year. After the fiesta I will set aside money for my kids school supplies need to buy them shoes and uniform etc. Maybe next month I can start my investing.
JUNE:
Gosh!!! A lot of books and school supply for my kids, new school year new expenses hayyy… The tuition fee almost increases every year. I really need to start investing to beat inflation. Next month I will start.
JULY:
Oh my!! Its rainy season again, we need to fix our house specially our roof its already leak and raindrop falls inside our room. We need to renovate our house and be prepare for this season. I need to prepare and set aside money for this.
AUGUST:
I heard from my Filipino – Chinese friend that it is not a good time to invest, it is bad time because it is Ghost month. I will just keep this money in my pocket after this month I will start saving and invest.
SEPTEMBER:
My friends borrow money form and can’t say NO to him, his close friend to us. I can lend him our little savings
OCTOBER:
Wow!!! Octorberfest again. !!! We will be watching concert and enjoying the party, it’s a whole month of enjoyable nights. It’s time to enjoy and relax for a moment and forget the work.
NOVEMBER:
We will visit the grave of our relatives and a kind of reunion, we will enjoy and it’s semester break for my kids. It is only time we can visit our departed love ones.
DECEMBER:
It’s Christmas time. We will buy new Christmas light and Christmas tree to feel the spirit of Christmas. We will also go some shopping for the new stuff and gifts for our relatives’ friends and “inaanak”. We will also start going to the malls for our traditional groceries like Ham, Keso de Bola etc.
Now are you wondering why lots of Filipino never starts investing or even start saving? They always make excuses and alibi. They delay and procrastinating is one of the best enemies of investing that block us to start fulfilling our dreams.
Don’t get me wrong, me and my wife also spend time enjoying vacations and holidays, we also have a weekly dates and we also celebrates special occasions in our life such as anniversary, birthday etc. but we budget everything. We spend less but we enjoy being each other. Be wise and practical in spending and celebrating special occasion, you can be artistic and creative in doing that things. You use your gift you save and you enjoy.
The first steps in our dream are one of the difficult things, but once we start us already make a first step to our goal.
To become a successful individual always start with a small things toward your dream, along the way hindrance and difficulties may be present but just keep on moving it is just a test of your perseverance. Successful people failed but they keep on moving and focus on their dreams until they become successful.
The best way to start investing is not tomorrow or next week or next month, the best way is TODAY. Start by learning something and applying a small amount to your investment that you like and keep on learning on how it works, little by little you will notice you become confident and mastering your investment.
“You cannot escape the responsibility of tomorrow by evading it today.” ― Abraham Lincoln
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P.S. 1. Bernard B. Anduyon is an OFW based in Qatar. He is a speaker and trainor for OFIE-M (Overseas Filipino Investors and Entrepreneur – Movement), a small group of Filipinos that advocates and teaches fellow OFWs to be investors and entrepreneurs. He is also a long-time member of Bo Sanchez' Truly Rich Club http://bernard.trulyrichclub.com.
P.S. 2. If you, your family or friends are based in Qatar, then I’m inviting you to attend our financial literacy talk series every 1st and 3rd Mondays of every month at Al Thumama, Doha. I give talks on diverse topics such as abundance mindset, financial planning, investing and entrepreneurship for Filipinos. I am also a trainor for PINOYWISE-ATIKHA, promoting awareness on issues affecting OFWs and their families as well as financial literacy.
If you want a financial coaching, you can send email to b_anduyon@yahoo.com
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